This guy definitely blew me away. I read this interview https://www.ivey.uwo.ca/media/3788698/van-den-berg-interview-1.pdf, and it surely made me inspired. What an interesting life!

Some takeaways:

  • perseverance is especially powerful, to quote J.D.R. “I do not think there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature.”
    John D. Rockefeller
  • The subconscious mind is powerful. But you program it based on truths, you get what you need and want.

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Even though Netflix stock has dropped during 2022, I still think Reed Hastings is a pretty smart guy.

He said that Netflix is a high performing sports team, rather than a family.

Most (loving) families do not disown their children. But companies conduct mass layoffs in bad times. Look at ABSCBN “Kapamilyas” who had to reduce much of their workforce.

If you look deep into what a company is, it is this: it is a profit-generating machine. At it’s most basic, that is what a company does, it aims to generate profits. That’s the interest of the company.

That’s why alarm bells ring for me when I hear my company idealized as a family. It’s simply not true. A good family will not disown family members.

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For those who suffer from intrusive thoughts and fears, mental models, and running through the checklists in your brain to become more objective and reality & data oriented, really helps decrease anxiety generated by the mind (especially when you’re trying to ‘control’ the mind).

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Starting this list with Incentives and Opportunity costs, because Charlie Munger identifies these as superpowers.

Incentives: people respond to incentives.

Opportunity Cost: the cost of something is everything you give up to get it.

Pareto Principle: 80 percent of the outcomes are from 20 percent of the inputs.

Principal Agent Problem: Usually, the incentives of a principal are different from the incentives of an agent.

Price is where Supply and Demand meet: Supply and Demand determine prices.

Diminishing Marginal Returns: At a certain point, the returns on increasing an input will diminish.

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